Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

Thank you for a question on the economy. Since we've come to government, we've recognised that Australian households are facing cost-of-living pressures and we've been responding to that. At the same time we've been working with the Reserve Bank in order to make sure that inflation comes down and gets back into band. We know that that work is never done. But I think it is right that we, as Australians together, acknowledge the substantial progress that has been made over the last three years. Inflation has now been between two and three per cent for three consecutive quarters. While headline inflation increased last quarter, this was largely as a result of the end of state energy rebates, and it remains much lower than its peak. The Reserve Bank has cut rates three times this year.

We are seeing those cost-of-living pressures remain, and that's why we have focused on measures that help households—measures that those opposite voted against and now refer to as wasteful spending. We're working out how to get wages moving. Lower taxes—this is the government of lower taxes.

Opposition senators interjecting—

Well, we are. We're the only ones who went to the election promising to lower taxes. You promised to raise income taxes for every single working person in this country to pay for a $600 billion nuclear fantasy that some are still trying to revive. The government remain focused on the commitments we took to the election, on delivering on those commitments and on supporting households right across the economy.